There is quite a bit of effort that goes into selling a used car. When selling your car, you definitely want to get as much money as possible for the exchange. When putting a price tag on a car, it is important to look at the car at face value. It’s possible that you will attribute personal memories and experiences to the car that might inflate your desired selling price.
However, you should definitely do your homework and discover what the actual estimated price of the car should be. It is important to know the market of your vehicle. If there is a lack of demand for your car, you may have a more difficult time selling at a competitive price range.
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Car appearance – One of the easiest things car owners can do when trying to sell their car is to spruce up the overall appearance of the car. A visually clean car is sure to draw the attention of more promising buyers compared to a car with a scratched hood and a missing tail light.
Repair – By fixing these simple problems and keeping the car in good working condition, you are sure to get more bang for your buck. You can combine this curb appeal with a vehicle history report to help sway the minds of potential buyers who might be on the fence about the purchase.
Advertisement – There are a variety of ways car sellers can go about advertising their vehicles. The internet has provided the market with an easy way to post advertisements for potential buyers. Many websites compile online car advertisements in an easy-to-search format where buyers can search for their desired vehicles.
These car databases are particularly useful for more specialized cars. Before you post that advertisement, be sure it is creative enough to draw the attention away from your competitors. Make certain to highlight the quality features of the car and include pictures.
Buyer profiling – When showing the car to potential buyers, use your instincts to weed out the good buyers from the bad. If somebody comes across as very shifty or overly pushy, don’t be afraid to move on to the next potential buyer. As you are sizing up your potential buyers, they may also be evaluating you.
Be honest about any questions they may have regarding the vehicle or its history. If the buyer wishes to take the vehicle on a test drive, make sure you go with them in order to answer any questions they may have while the car is in motion.
Negotiation – When it comes to actually negotiating a price, many people may be uncomfortable with haggling back and forth. There are a few methods you can use in order to adjust the price in a buying/selling agreement. It is possible for buyers to simply make an offer. The seller may also state that the asking price is not up for debate. However, if you are comfortable with haggling for a desired price, that may be your best method of getting a great price for your car.
Payment method – Once the sale is final there are more steps the seller can take to make sure they are paid and no longer accountable for the sold vehicle. The most secure way to exchange money for the vehicle is through cash or a cashier’s check. This prevents the buyer from cancelling the check after the car leaves your possession, along with any other shady business with checks and bank accounts. It is also important to sign all documents that hand the title over to the new owner so you are no longer accountable for what happens to the vehicle.
Selling a car can be rewarding for both the buyer and the seller. As long as everything is in order and in working condition, the transfer between seller and buyer should be smooth.
Now as per personal experience, I sold our old Hyundai (the one in the picture) last month. I actually lost hope of selling it, and, even junk car buyers refused to pay more than $500 for the car as it was needing a major engine work. As a last ditched effort I put out a Craigslist ad. Within 24 hours my car was sold and I got $1,200 in cash.
Yes, I did advertise the car well, taking pictures as it was looking good, even though 10 years old. I listed all the problems it had and also mentioned that the sell is only for mechanics. The Craigslist post generated a lot of interest.
On the other note, it’s important to put an attention grabbing headlines on your Craigslist/cars.com listing. There would probably be 100s other listings besides yours, you need to draw attention towards your car. Once I saw an ad which said “Selling my best friend VW Beetle of 8 years“, the listing went on to describe how well it was maintained and how a job loss is forcing her to sell the car. I wasn’t looking for a Beetle, still I couldn’t ignore the ad.
So, go the extra mile and put your car out like a dealer would, talk about good qualities it has. If there’s any trouble, don’t forget to mention that too, it increases your credibility as a seller. A few high-resolution pictures go a long way and so is a car wash or car detailing. It may take $150 towards detailing but, it would have a deep impact on buyers trying to buy the car. And, who knows, you may find a good sales rep in you, in the process. Happy selling readers!
Edward Antrobus says
I’ve never actually sold a car, unless you count to the junkyard. My philosophy is to run them until buying a replacement is cheaper than repair. Unfortunately, that point has always come for me from an accident.
that’s not at all good Edward, is it always the other driver’s fault?
Edward Antrobus says
Actually, just the opposite. 🙁 But I did get 8 years out of my last car and took it to over 275,000 miles.
[email protected]&More says
I sold my old car on Craigslist. Clean it up and takes lots of pictures. Try to give as much detail as possible. I listed it for $1000 over blue book and got $500 over blue book in the end. Start your price high because people will want to negotiate. You can always lower your price but you can’t raise it.
Early Financial Freedom says
Nice and timely post! I am also looking into selling our now 9-year old Hyundai Accent as part of our location independent living plans.
Buying and selling both the activities related to a used car creates a lot of mess for the peoples making this deal and that’s why both the parties should have patience and play their role to satisfy the other party as much as they can by informing the desired information out and by fixing the right price according to the current value of the car.